Highlights

  • NoviqTech shares rose 3.45% to AUD 0.030 on 29 April 2026 following its March quarterly update.
  • Binding agreement signed to acquire Coralia Pty Ltd, a biochar carbon removal company.
  • Coralia entered a strategic MOU targeting up to 70% long-term Carbon Credit offtake.
  • Great Barrier Reef Biochar Project estimated to generate ~550,000 carbon removal credits.

$1.5 million Capital raising secured to support Acquisition and project development.

  • Cash reserves stood at AUD 1.1 million at the end of March 2026.
  • Outstanding Debt of AUD 411,356 converted to Equity post quarter-end.

NoviqTech Ltd (ASX:NVQ) shares increased by 3.45% to AUD 0.030 during the morning session on 29 April 2026, following the release of its Quarterly Report for the period ended 31 March 2026. The stock also remains 50% up over the past month with today’s share price movement coincided with updates on a proposed Acquisition, strategic partnerships, and developments across its carbon removal initiatives.

The company outlined a series of operational and corporate milestones, including progress on its biochar carbon dioxide removal strategy, which appears to have supported investor interest during the session.

Company Overview

NoviqTech Limited operates in the technology and sustainability space, with a focus on digital solutions and emerging environmental markets. The company is increasingly aligning its strategy toward carbon markets and infrastructure linked to sustainability initiatives.

A central component of this shift is its move into biochar carbon dioxide removal (CDR), which involves converting biomass waste into biochar, a stable carbon-rich material capable of sequestering carbon over long periods. This approach is gaining attention as industries seek scalable pathways to reduce emissions and meet net-zero targets.

The company’s latest quarterly update reflects a growing emphasis on integrating carbon removal technologies with infrastructure sectors such as data centres.

Acquisition of Coralia Pty Ltd

A key development during the quarter was the binding agreement to acquire Coralia Pty Ltd, described as an industrial-scale biochar carbon dioxide removal company. The Acquisition is positioned as a strategic step in expanding NoviqTech’s exposure to carbon markets and sustainability-linked infrastructure.

Following the Acquisition, Coralia became an affiliate member of Data Centres Australia, enabling engagement with a sector experiencing increasing Demand due to artificial intelligence and data-driven applications.

The company outlined several strategic drivers associated with the Acquisition. Coralia is targeting initial Revenue generation from its flagship Great Barrier Reef Biochar Project, with potential offtake arrangements under discussion. The project is designed to convert approximately 2 million tonnes of woody weeds and agricultural waste into around 550,000 biochar carbon dioxide removal credits.

In addition, biochar production is expected to support carbon reduction in cement and concrete applications, aligning with sustainability requirements in data centre construction.

To support development, TFA Project Group has been appointed to provide pre-feasibility engineering and project management services, while Fyfe has been engaged as an environmental and permitting advisor.

Strategic MOU and Offtake Potential

Subsequent to the end of the quarter, Coralia entered into a Strategic Memorandum of Understanding with A Healthier Earth, the Research and Development Subsidiary of Pure Data Centres Group.

Under the 12-month agreement, the parties will assess the feasibility of securing a long-term offtake arrangement for a minimum of 70% of the carbon removal credits generated from the Great Barrier Reef Biochar Project.

The MOU outlines the intention to move toward a more detailed agreement, which could include direct sales of carbon credits or the establishment of a joint venture for constructing a biochar production Facility.

This arrangement reflects a potential pathway to monetisation of carbon credits, subject to further commercial and technical evaluation.

Research Partnership with Swinburne University

Another development highlighted in the update was the signing of a research Partnership with Swinburne University of Technology. The collaboration is focused on advancing the use of biochar in low-carbon concrete applications, particularly within the data centre sector.

The initial phase of the program will assess the feasibility of incorporating biochar derived from invasive plant species into non-structural concrete and landscaping materials.

The company indicated that this initiative could support a dual Revenue model, combining Carbon Credit generation with the sale of biochar-based construction inputs. This approach aligns with broader efforts to reduce emissions associated with cement and concrete, which account for a notable portion of global emissions.

Additional Business Developments

During the quarter, NoviqTech also reported progress on other projects. The company signed an agreement with Viva Energy Australia to support a sustainable aviation fuel (SAF) book-and-claim initiative. Phase one of the project has been completed, with partial Revenue received from a total engagement valued at $45,000.

In addition, NoviqTech was awarded a phased grant of USD 160,000 from The Hashgraph Association for the implementation of Registry 2.0 for Eco-Markets Australia.

These developments indicate ongoing activity across the company’s broader technology and environmental solutions portfolio.

Corporate and Capital Management Updates

NoviqTech strengthened its Leadership team during the quarter with the appointment of Timothy Brooks, founder and managing director of Coralia, as Executive Director. The company also appointed Howard Pheby as Strategic Advisor, bringing experience from the data centre industry.

From a Capital perspective, the company secured binding commitments for a $1.5 million Placement at $0.02 per share. The funds are intended to support the Coralia Acquisition, research partnerships, and development of the biochar project.

As at 31 March 2026, NoviqTech reported cash reserves of AUD 1.1 million. Subsequent to the quarter-end, the company confirmed that outstanding Debt of AUD 411,356 owed to PEAK Asset Management Pty Ltd and Copeak Pty Ltd had been satisfied and converted into Equity.

Financial Position and Cash Flow

The company reported total cash outflows from Operating Activities of AUD 322,000 for the quarter. Key expense components included staff costs of AUD 273,000 and administration and corporate costs of AUD 144,000.

Government grants and other funding contributed AUD 104,000 in inflows, while interest income was minimal.

From a financing perspective, NoviqTech recorded inflows of approximately AUD 1.4 million, largely associated with Equity issuance. This contributed to a net increase in cash and cash equivalents of AUD 22,000 for the quarter.

At the end of the period, total cash and cash equivalents stood at AUD 1.1 million. Including unused financing facilities of AUD 1.1 million, total available funding was approximately AUD 2.2 million.

Based on current cash usage, the company estimates it has approximately 6.8 quarters of funding available.

Payments to related parties during the quarter totalled AUD 141,000, relating to remuneration for directors and key management personnel.

Strategic Outlook and Asset Review

NoviqTech indicated that the integration of Coralia and its positioning within the data centre ecosystem provides access to infrastructure markets aligned with global net-zero commitments.

The company also noted that a strategic asset review is underway, aimed at streamlining operations, reducing cash burn, and aligning resources with core Business priorities.

Additionally, the termination of a master services agreement with MorphoTech, effective April 2026, is expected to reduce operating costs by approximately AUD 62,500 per month, contributing to improved Cash Flow flexibility.

What This Means for Investors?

NoviqTech’s latest quarterly update outlines a shift toward carbon removal and sustainability-linked infrastructure, supported by the proposed Acquisition of Coralia and related partnerships.

The progress on potential offtake agreements, research collaborations, and Capital raising initiatives provides context for the company’s current strategic direction.

The share price increase on 29 April 2026 appears to align with these developments, particularly the Acquisition and associated opportunities in Carbon Credit markets. Investors may continue to monitor execution of the Coralia integration, advancement of the biochar project, and progress toward commercial agreements.